Demystifying the cloud

UK SMEs are beginning to take the lead when it comes to embracing new technology software. However even the most forward-thinking companies are only scratching at the surface.

Most SMEs (and larger corporates) are still failing to grasp the full potential of the ways in which tactical adoption of cloud software can quickly result in improved revenue and performance.

There needs to be a paradigm shift in perceptions. Gone are the days when ‘the cloud’; just meant accounting and salesforce solutions. There are now a huge range of products and tools out there, from project management to business intelligence and marketing automation.

It can be tough for many businesses to properly orient themselves in the face of a universe of so many possibilities. Many can feel trapped in the gleaming headlights of SaaS. However with the right research and targeted advice, companies of all sizes can quickly learn to leverage the tools that are perfect for them and their bottom line. Waiting is futile.

Significantly, those who have embraced the cloud and are using multiple software products as part of their business processes showed on average 26% growth in revenue in 2015, compared to 14% among those using one or two online solutions, and 10% among those who don’t use any cloud solutions at all. Although the research shows the UK does have plenty to shout about when it comes to tech adoption rates among its five million+ SMEs, there are shortcomings when it comes to optimizing working practices. Only 10% “actively look for new solutions that help us grow” – the lowest number among any of the comparison countries – while the most popular reason given for implementing new software solutions was “when we need to replace outdated versions” (54% – higher than any other country).